Mooreland Partners advises Nomad Payments in Sale to Metavante
Second Milestone Transaction in Prepaid Industry within Six Months
Greenwich, CT – January 17, 2008 – Mooreland Partners, a boutique investment banking firm serving the global technology industry, is pleased to announce it has acted as exclusive financial advisor to Nomad Payments Ltd. (“Nomad”) in itssale to Metavante Technologies, Inc. (“Metavante”). On January 10, Metavante announced it is acquiring all outstanding shares in Nomad for a total of approximately $58 million.
Mooreland had previously advised Prepay Technologies in its sale to Accor Services in September 2007. The two transactions represent key milestones in the development of the European prepaid card market. Mooreland is active in covering the entireprepaid and payments value chain.
The acquisition of Nomad provides Metavante with a beachhead in the United Kingdom to expand Nomad’s prepaid and debit card processing services more broadly across Europe, and also a channel for selling additional Metavante services. Donald W. Layden, Jr., president of the Metavante International Group, commented, “It also offers a rich opportunity to expand the prepaid
processing value chain by offering synergistic Metavante services such as closed loop and loyalty programs, and fraud monitoring to U.K. and European markets.”
According to John Yeomans, Nomad CEO, “joining an established and successful prepaid processor like Metavante will enhance Nomad’s products and services, and enable them to be offered to a wider range of clients throughout the U.K. and Europe. Our company will greatly benefit from both Metavante’s financial strength and established credibility with financial
institutions, making us a more formidable competitor in our marketplace.”
Mooreland’s Larry Phillips commented, “The processing and management capabilities that Nomad provides are at the core of the prepaid value chain. Major international payments, processing and financial services providers such as Metavante recognize the growth opportunity in prepaid and the strategic importance of partnering with industry leaders. We look forward to continuing to work with leading innovators in the field in this evolving strategic landscape.”
Nomad is a leading provider of prepaid and debit card processing and management services to card issuers in Europe. The Company launched its prepaid services in the United Kingdom in 2005 and achieved substantial growth in 2006, emerging in 2007 as a leading pure-play open loop processor in Europe. Nomad provides a robust end-to-end solution for transaction processing as well as program setup and ongoing management, supporting most major card schemes. Building on its expertise in debit card processing, Nomad has extended its specialized knowledge base and has harnessed its innovative Nomad CORTEX software to deliver a service which genuinely and cost-effectively caters for prepaid cards and their specific complexities. For further information, please visit: www.nomadpayments.com.
Metavante Technologies, Inc. (NYSE: MV) delivers banking and payments technologies to over 8,600 financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, consumer healthcare payments, electronic presentment and payment, business transformation services, and payment network solutions including the NYCE Network, a leading ATM/PIN
debit network and provider of mobile financial services. Metavante (www.metavante.com) is headquartered in Milwaukee.
Metavante and NYCE are registered trademarks of Metavante Corporation, which is the principal subsidiary of Metavante Technologies, Inc.
Mooreland is a boutique investment banking firm specializing in mergers & acquisitions in the Information Technology and Communication industries. From its offices in Greenwich, Silicon Valley, and London, Mooreland delivers multinational client service teams which bring significant transaction expertise together with operational management and investing experience. The firm was created in 2003 to provide high quality strategic and tactical advice to public, private, or venture-backed technology
companies in relation to mergers and acquisitions, divestitures, financings, recapitalizations and restructurings. In the United
States, Mooreland Partners is regulated by FINRA and is a member of SIPC. In Europe, Mooreland Partners is authorized and regulated by the Financial Services Authority.